General Q&A Flashcards
(10 cards)
What issues would a company experience with a high staff turnover?
Increased training and recruitment costs
Poor staff morale
Reputational damage/ Lower customer satisfaction
What is an investment appraisal?
An investment appraisal is used to determine whether a business or project would generate the required levels of return and be considered financially viable.
The investment appraisal would typically consider:
Rate of return
Payback period
Net Present Value
What is a Business Plan?
A business plan is a formal written document containing the goals of a business, the methods for attaining those goals, and the time-frame for the achievement of the goals. This provides employers a common ground to focus on.
Advantages of a business plan:
Provides guidance
Helps predict problems
Helps forecast future steps.
Focus on key priorities
Allow organisation to respond to change
Can be used for companies to secure funding
What components would you identify within a business plan?
Executive summary
Company description
Marketing strategy
Products & services
Market analysis
Financials
Budget
What is a business model?
A business model is a structure that a company uses to generate profits and build value.
What is a SWOT analysis?
SWOT analysis is a framework for identifying and analysing an organization’s strengths, weaknesses, opportunities and threats.
What are the corporate objectives of your firm?
Achieve sustainable and profitable growth.
Expand customer base and meet client’s needs.
Make a positive impact on the communities.
Deliver a high quality of service
How do you work towards firm objectives?
Deliver a good service through speed and quality of communication and collaboration with other stakeholder.
Work to high standard
Share knowledge
Keep up to date with the industry and new technologies
Cross sell where possible to aid with profitable growth
How is your teams performance measured?
80% rent collection on Day 7
90% rent collection on Day 14
95% rent collection on Day 28
